Leading two wheeler manufacturer TVS Motor Company has reported a 16 per cent growth in its net profit at ₹ 178 crore for the quarter ended December 31, 2018 when compared with ₹ 154 crore in the same period last year helped by better operating performance.
EBITDA for the December 2018 quarter stood at ₹ 376 crore as against ₹ 300.5 crore, an increase of 25 per cent.
Profit before tax was ₹ 258 crore when compared with ₹ 210 crore last year, posting an increase of 23 per cent.
The company’s total revenues (excluding excise duty/GST) grew by 26 per cent ₹ 4664 crore as against ₹ 3701 crore in Q3 of previous fiscal, on the back of an increase in two wheeler sales.
During the third quarter of this fiscal, the overall two-wheeler sales including exports grew 19 per cent to 9.5 lakh units from 7.99 lakh units in the year-ago period.
Motorcycles sales grew by 20 per cent to 3.78 lakh units, while Scooter volumes increased by 32 per cent to 3.54 lakh units. The company exported 1.77 lakh units of two and three wheelers in the December quarter, registered a growth of 26 per cent.
For the 9 month-period ended December 31, 2018, profit after tax stood at ₹ 536 crore as against ₹ 497 crore in the same period a year ago.
Profit before tax (PBT) stood at ₹ 777 crore as against ₹ 687 crore, which included notional fair valuation gain of ₹ 68.3 crore and one time GST discount of ₹ 16.5 crore.
Revenues excluding excise duty / GST grew 23 per cent ₹ 13830 crore (₹ 11258 crore).
The total two-wheeler sales grew 15 per cent to 28.92 lakh units (25.08 lakh units). Bike sales increased by 17.4 per cent to 11.84 lakh units, while scooter volumes grew by 20.5 per cent to 10.30 lakh unit. Total exports grew 33 per cent at 5.5 lakh units.